American Tower Corporation $AMT Shares Purchased by Kingsview Wealth Management LLC

Key Points

• Kingsview Wealth Management LLC increased its stake in American Tower by 15% in the fourth quarter, buying an additional 6,646 shares and bringing its total holding to 50,883 shares worth about $8.9 million.
• American Tower delivered strong quarterly results, reporting EPS of $2.84 versus the $1.60 analyst estimate and revenue of $2.74 billion, up 6.8% year over year.
• The company also highlighted shareholder returns and analyst support: it announced a quarterly dividend of $1.79 per share and maintained a Moderate Buy consensus rating, with an average price target of $216.20.

Kingsview Wealth Management LLC lifted its position in American Tower Corporation (NYSE:AMT - Free Report) by 15.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 50,883 shares of the real estate investment trust's stock after purchasing an additional 6,646 shares during the quarter. Kingsview Wealth Management LLC's holdings in American Tower were worth $8,934,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AMT. Richards Merrill & Peterson Inc. acquired a new stake in shares of American Tower during the 4th quarter worth approximately $25,000. Oakworth Capital Inc. lifted its holdings in American Tower by 90.7% in the fourth quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust's stock valued at $25,000 after acquiring an additional 68 shares during the last quarter. Holos Integrated Wealth LLC acquired a new position in American Tower in the fourth quarter valued at approximately $27,000. Triumph Capital Management purchased a new position in American Tower in the third quarter worth approximately $29,000. Finally, Lloyd Advisory Services LLC. acquired a new stake in American Tower during the fourth quarter worth $30,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at American Tower

In related news, COO Eugene M. Noel sold 41,209 shares of the company's stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $191.05, for a total value of $7,872,979.45. Following the completion of the sale, the chief operating officer owned 29,592 shares in the company, valued at $5,653,551.60. This represents a 58.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ruth T. Dowling sold 416 shares of the firm's stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $177.54, for a total transaction of $73,856.64. Following the transaction, the executive vice president directly owned 29,461 shares in the company, valued at $5,230,505.94. The trade was a 1.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 42,181 shares of company stock worth $8,046,071 in the last 90 days. 0.08% of the stock is owned by insiders.

American Tower Trading Up 1.1%

Shares of NYSE AMT opened at $187.00 on Friday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 3.07. The stock has a market capitalization of $87.12 billion, a PE ratio of 30.21, a PEG ratio of 0.77 and a beta of 0.90. American Tower Corporation has a twelve month low of $165.08 and a twelve month high of $234.33. The stock has a fifty day simple moving average of $177.55 and a 200-day simple moving average of $179.31.

American Tower (NYSE:AMT - Get Free Report) last released its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.60 by $1.24. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The firm had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same period last year, the business posted $2.75 earnings per share. American Tower's revenue was up 6.8% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. On average, equities analysts forecast that American Tower Corporation will post 10.67 earnings per share for the current year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Friday, June 12th will be issued a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, June 12th. American Tower's payout ratio is presently 115.67%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AMT. Jefferies Financial Group upped their price target on American Tower from $209.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday, April 14th. TD Cowen cut their price objective on American Tower from $235.00 to $225.00 in a research report on Wednesday, February 25th. Weiss Ratings upgraded shares of American Tower from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, May 11th. UBS Group decreased their target price on shares of American Tower from $254.00 to $248.00 and set a "buy" rating on the stock in a research report on Wednesday, February 25th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and set a $195.00 price target on shares of American Tower in a research report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, American Tower has a consensus rating of "Moderate Buy" and an average price target of $216.20.

About American Tower

American Tower NYSE: AMT is a real estate investment trust (REIT) that owns, operates and develops wireless and broadcast communications infrastructure. The company's core business is leasing space on communications sites — including towers, rooftops and other structures — to wireless carriers, broadcasters, government agencies and enterprise customers. Its business model centers on long-term site leases and contracts that provide recurring revenue tied to the footprint and density of wireless networks.

Beyond traditional tower assets, American Tower offers a range of infrastructure and network services to support mobile, broadband and broadcast connectivity.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.